315.99842 - Notes, bonds and other obligations: Issuance; amounts; payment. - Nevada Statutes

315.99842  Notes, bonds and other obligations: Issuance; amounts; payment.

      1.  The State Authority may issue its negotiable notes and bonds in such principal amount as the State Authority determines to be necessary to provide sufficient money for achieving any of its statutory purposes, including the payment of interest on notes and bonds of the State Authority, establishment of bond reserve funds and other reserves to secure the notes and bonds, and all other expenditures of the State Authority necessary or convenient to carry out its statutory purposes and powers.

      2.  Subject to any agreements with holders of notes or bonds, all notes and bonds issued by the State Authority are special obligations of the State Authority payable out of any revenues, money or other assets of the State Authority pledged thereto.

      (Added to NRS by 2005, 213)